New York, USA, May 02, 2023 (GLOBE NEWSWIRE) -- Herbal Extracts Market Overview :
Market Research Future (MRFR) 's report highlights “Herbal Extracts Market Information By Source, Form, Application, And Region - Forecast till 2030”; the market will achieve USD 55.7 billion by 2030 at a 6.3% CAGR.
Market Synopsis
Unlike their counterparts from chemicals and other synthetic agents, herbal extracts originate from natural sources. The use of chemicals is linked to several illnesses that harm the human body. As a result, there has been a noticeable rise in the demand for natural ingredients like herbal extracts in recent years. Numerous active compound sources, including tannins, glycosides, alkaloid compounds, volatile oil compounds, steroids, flavonoids, and phenols, are abundant in these plant extracts. These active substances can be found in various plant parts, including the bark, flowers, seeds, roots, leaves, and fruits. Additionally, organic herbal extracts contain medicinal qualities that benefit people. Various solvents are useful when extracting herbal extracts.
These solvents are mixtures of chemicals, alcohol, water, or other liquids appropriate for extracting plant materials. Because even products made from herbal extracts on the market have few side effects, demand for them is rising across the globe. Numerous nations, including China, India, and Japan, have sizable areas dedicated to cultivating herbal plants. These areas have developed traditional methods to extract natural ingredients from plants and create various products. Furthermore, the cost of extracting active ingredients is considerably lower than that of producing synthetic compounds. As a result, the cost-effectiveness of using natural ingredients encourages businesses to create new goods with active ingredients derived from herbal sources.
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Report Scope:
| Report Attribute | Details |
| Market Size | USD 55.7 Billion |
| CAGR | 6.3% (2022 to 2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Source, Form, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing awareness about the therapeutic properties of herbs |
Market Competitive Landscape:
The well-known players in the herbal extracts market are:
- Changsha Langyuan Bio-Tech Co., Ltd (China),
- Naturex SA (France),
- Döhler GmbH (Germany),
- Synthite Industries Private Ltd (India),
- Herbal Bioactives LLP (India),
- Herbochem (India),
- Kalsec Inc. (US),
- Mountain Rose Herbs (US),
- Organic Herb Inc. (China),
- Vidya Herbs Pvt Ltd (India).
Market U.S.P. Covered:
Market Drivers:
With younger generations entering the workforce and gaining purchasing power, clean label is a macro fashion that is changing and growing. Almost every facet of product development is impacted by knowing what consumers look for on labels. Consumers who prefer clean labels still prefer an easily readable ingredient list. Additionally, they strive for a clear label, certifying that the goods they buy have been packaged and sourced safely for both the environment and consumers. Revenue of organic herbal extracts is anticipated to increase globally due to consumer preferences rapidly shifting from clean-label to clear-label herbal extracts.
Market dynamics have always been caused by how precarious consumers are. Consumers are extremely selective regarding their ingredient selections regarding leading a healthy lifestyle. Consumers prefer natural and organic herbal extracts due to their reasonable health consciousness and caution. Botanical extracts pique new consumers' interest worldwide due to their lack of genetically engineered organisms, gluten, soy, and dairy.
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Market Restraints:
Due to the low growth and productivity of the herbs, the price of raw materials may change, affecting products made with plant extracts. Additionally, the market growth for herbal extracts is constrained by the affordability of other synthetic alternatives.
COVID 19 Analysis
The need for food products that boost immunity increased during the COVID-19 pandemic. In nations like India and China, herbal products are natural, widely accessible, and have a long history of use in personal care and treating various illnesses. Therefore, scientific research studies are carried out on the human body to determine the beneficial effects of these products on patients using various products based on extracts of herbs. Extracts from spirulina and green tea are being considered as possible COVID-19 treatment ingredients. People with mental illnesses and insomnia can benefit therapeutically from extracts of essential oils.
However, potential side effects like nausea, shortness of breath, and eye or stomach burning are likely to restrain market expansion for organic herbal extracts. Therefore, manufacturers should use clean labeling to inform customers about the components. As a result, businesses are expanding the supply of ingredients that are sourced safely in response to consumer demand for natural products of the highest caliber. They are developing minimally processed, GMO-free F&B products to create steady revenue streams in the market.
Browse In-depth Market Research Report (110 Pages) on Herbal Extracts Market: https://www.marketresearchfuture.com/reports/herbal-extract-market-2523
Market Segmentation
By application, the market includes food & beverages, pharmaceuticals, and personal care & cosmetics. By source, the market includes mint, rosemary, thyme, basil, dill, and lavender. The market includes liquid/tinctures, powders, and essential oils by form.
Regional Insights
The significant market share of this region is mainly attributable to growing consumer awareness of the advantages of products containing naturally derived plant extracts, the prevalence of aromatic medicinal plants, rising competition for resources of natural origin, which causes customers to prioritize better health, and government initiatives that encourage advances in technology in this region. An economic boom and a high standard of living are the main drivers of the need for essential oils and flower extracts, which is expected to drive the regional market. Aromatherapy is a common use for essential oils in Europe. Aromatherapy is used therapeutically, and the main markets for this practice are France, Austria, Germany, and Switzerland.
Other major markets for aromatherapy include the Netherlands and the United Kingdom. Pharmaceutical products are also widely produced, exported, and used in Europe. As a result, it has become a crucial market for pharmaceuticals, nutraceuticals, and complementary therapies. The aging population in the region has fueled the demand for drugs and nutraceuticals, which is expected to cause the European market to expand over the coming years. Additionally, manufacturers are investing in R&D activities to create natural products in response to consumer demand for natural, healthier products with greater efficacies, which is anticipated to fuel the market for natural extracts further.
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